Thu, Sep 18, 2014, 1:18 AM EDT - U.S. Markets open in 8 hrs 12 mins

Recent

% | $
Quotes you view appear here for quick access.

Old Republic International Corporation Message Board

  • in4long_term in4long_term Apr 23, 2009 8:31 PM Flag

    8% convertible senior notes

    Wow, down 1.77 today! The market sure didn't like ORI's public offering today of $275 million aggregate principal amount of 8% convertible senior notes due 2012.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Question (serious-not sarcasm). As a bull on ORI, I ask myself whether I would lend money to ORI at 8% for four years, even with a conversion privilege, or purchase the stock at current dividend yield and price. Should there be a real estate bottom and actual turnaround over the next several years, wouldn't it be accompanied by inflation, rather than current deflation of real estate, and Higher interest rates (which would make disposition of the bond more difficult). Additionally; the purchaser of convertible bonds typically Shorts the stock as a hedge-which may account for the price drop(?) Where is my 'logic' wrong, please...Thanks, f/c

    • the_millionaire_next_door the_millionaire_next_door Apr 23, 2009 11:40 PM Flag

      Nor did they like another dud for an earnings report.

 
ORI
14.96+0.13(+0.88%)Sep 17 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.